Hi All,
First time posting so apologies if this had been asked before or is a silly question!
Husband and I bought house 4 years ago(25 year mortgage of €75k). House is now worth about €150/160. We want to buy bigger house but don't want to sell current house. Would prefer to Keep as investment and rent it out.
Is there some way of using first house as equity/collateral to get 2nd mortgage or do we need to save to 20% and start from scratch separately for second property?
First time posting so apologies if this had been asked before or is a silly question!
Husband and I bought house 4 years ago(25 year mortgage of €75k). House is now worth about €150/160. We want to buy bigger house but don't want to sell current house. Would prefer to Keep as investment and rent it out.
Is there some way of using first house as equity/collateral to get 2nd mortgage or do we need to save to 20% and start from scratch separately for second property?